World Investment Advisors LLC Reduces Stake in American Tower Co. (NYSE:AMT)

World Investment Advisors LLC cut its stake in American Tower Co. (NYSE:AMT) by 9.5% in the third quarter, Holdings Channel reports. The fund owned 4,045 shares of the real estate investment trust’s stock after selling 425 shares during the period. World Investment Advisors LLC’s holdings in American Tower were worth $941,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cultivar Capital Inc. purchased a new stake in shares of American Tower in the 2nd quarter valued at approximately $25,000. Fortitude Family Office LLC lifted its holdings in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Fairscale Capital LLC purchased a new position in American Tower in the second quarter worth approximately $27,000. Hobbs Group Advisors LLC purchased a new position in American Tower in the second quarter worth approximately $29,000. Finally, Northwest Investment Counselors LLC acquired a new stake in American Tower during the third quarter worth $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Barclays decreased their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Scotiabank decreased their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group dropped their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $235.08.

American Tower Stock Down 0.3 %

Shares of NYSE AMT opened at $197.16 on Monday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The stock has a market cap of $92.13 billion, a P/E ratio of 83.19, a PEG ratio of 1.31 and a beta of 0.83. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The business’s fifty day simple moving average is $210.40 and its 200-day simple moving average is $213.64.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the business earned $2.58 EPS. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities analysts predict that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio is presently 273.42%.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.